General Motors reportedly plans to raise the price range on its pending initial public of stock to as much as $33 a share.

A decision about the stock price is expected later today, but it won't be revealed to the public until Wednesday, a day before the stock is scheduled to begin trading, The Wall Street Journal reported, citing unnamed sources for the information.

The increase in the IPO price to $31 to $33 a share from the initial range of $26 to $29 a share is being prompted by strong demand for the stock, the newspaper said.

The federal government holds a 61% stake in the Detroit automaker, which is keen on shedding the "Government Motors" moniker that critics of the 2008 bailout often use to refer to GM. The IPO would reduce the government's stake in GM to about 40%.

Increase your money and finance knowledge from home

Forex for Beginners

Learn about trading currencies and foreign exchange transactions

View Course »

Investing in Emerging Markets

Learn to invest in a globalized world.

View Course »

Add a Comment

*0 / 3000 Character Maximum

49 Comments

Filter by:
midlaged

A true "pump and dump" if I ever saw one. If the old guard from the old GM is still there, ex the CEO, than it will be business as usual. This will be a daytraders dream.

November 16 2010 at 11:45 AM Report abuse rate up rate down Reply
rostra

Ford is selling around $16.00 per share, this is a true long shot for success. One would think, the IPO would be priced around $12.00 per share, to avoid not meeting such high expectations.

November 16 2010 at 8:29 AM Report abuse rate up rate down Reply
hchevy

There never would have been a need for a bankruptcy or borrowed government money if Americans supported our companies the way Japan supports their's. Sypathizers in this country will use any excuse to buy from foreign comapanies. Japan,Germany,Korea,China and Sweden all think you for your support.

November 16 2010 at 6:42 AM Report abuse +2 rate up rate down Reply
1 reply to hchevy's comment
Appaloosa

As does Canada, Spain, Mexico and many more. I do agree with you though. Americans aren't losing jobs, they are giving them away. Buy Amewrican! The job you save just MAY BE YOU OWN!

November 16 2010 at 8:34 AM Report abuse +1 rate up rate down Reply
mtman233

I have a GMC, Pontiac,Buick in my driveway, there all mine. They were bought with 18.00 per hr. money. I have always been a GM fan. The newest member is the Buick, has 60,000 miles on it, and has already had two front wheel bearing assy. replaced ($380.00) Shocks ($840.00) Has problems with upholsterer, covers in trunk wont stay in place, paint has problems, Starter has ben replaced. I will never buy another GM car or truck. I also have 2000 thousand shares of OE GM stock, don't think I can use that ether. My next car might be a Ford, but I may consider a Jap-- model.

November 16 2010 at 6:40 AM Report abuse -1 rate up rate down Reply
toosmart4u

Of the 1.9 trillion in tax cuts by the bush administration, created millions of jobs, in India and China. We must buy American.

November 16 2010 at 3:26 AM Report abuse +2 rate up rate down Reply
toosmart4u

No wonder this country is in bad shape. People run down American companies to buy foreign goods. Then they run down our national debt, but they have a foreign car in the driveway, foreign tools in their garage and foreign clothes on their back. The govenment will be paid so get over it and buy American.

November 16 2010 at 3:20 AM Report abuse +5 rate up rate down Reply
lilstang289

chevy, our debt runs deep

November 16 2010 at 2:13 AM Report abuse +2 rate up rate down Reply
tevsorn

Well does this surprise me GM is doing what they did with the Chevy Volt, another misconception to the general public, tell the public a low price and then oh i changed my mind its not that it will be higher, Management Idiots.

November 16 2010 at 12:20 AM Report abuse +5 rate up rate down Reply
alpnair

everyone should remember that if GM gets in trouble it will expect a large taxpayer bailout while it sticks it to its stockholders by getting the courts to approve dumping them. Why any fool would buy thier stock let alone thier automotive junk is beyound me. Good old Government Motors can alwayse count on the stupid American consumer moron to make thier ceo's rich.

November 15 2010 at 11:18 PM Report abuse -2 rate up rate down Reply
1 reply to alpnair's comment
richard

Remember, the reason they needed a bailout was because too many stupid anti-Americans buy Asian junk. That`s why there should be a tax on Toyotas and Hondas, to offset the damage they do to the American economy. The taxes collected on the Asian junk should then be distributed to the American companies the anti-Americans are trying to kill.

November 16 2010 at 12:08 AM Report abuse +7 rate up rate down Reply
latt913

these same right wing nut jobs didnt say a word when Bush GAVE Goldman Saks $300 Billion. Gave I repreat.....GM was given a loan. When Goldman exexcs gave themselves billions of dollars in bonuses from the bailout money, the wingnuts said...there was no choice , the execs had contracts....So they were cool with these crook bankers feeding at the Gov trouth, but the auto workers and their contract was worthless and had to be renegotiated. Retirees lost pension dollars, benefits and current workers wages were cut and new hires get exploited at $14 per hour to work on the assembly line. Their rooting for billionaire bankers and dissing factory workers shows how dumb they are...Those neo cons love it that they've got these sheep thinking $14 per hour is a great wage. Tea bag this As-holes

November 15 2010 at 10:31 PM Report abuse +5 rate up rate down Reply
2 replies to latt913's comment
soundshak4

Latt, calm down here are the facts. GM went down under the Obama adminsitration and his czars. Wages, pensions, stock prices all tanked under the DEMS. Get a grip, boy.

November 16 2010 at 12:12 AM Report abuse +1 rate up rate down Reply
franksinbad

You could not have said it any better !! Thumbs up !!

November 16 2010 at 12:47 AM Report abuse +5 rate up rate down Reply